UK Mail chief executive heads for the exit following performance warning
THE board of Coventry-based parcels carrier UK Mail Group has announced that chief executive Guy Buswell has stepped down by mutual agreement and will be leaving the company with immediate effect.
A search for his replacement has already started.
The company was forced to sell-up and move from its former hub in Bromford due to the building lying in the path of the HS2 route.
UK Mail agreed a compensation package with the Department for Transport but the costs of setting up a new operation at Prologis Park, near Coventry have been higher than expected.
In a trading update attached to the firm’s latest set of interims it stated: “It has become clear that the near-term challenges and their impact on the current year’s performance have been more significant than anticipated.”
Following Buswell’s departure, the firm has asked has non-executive chairman Peter Kane to become interim executive chairman with immediate effect.
Kane founded the company and has more than 40 years’ experience in the logistics industry.
Kane said: “The board and I would like to thank Guy for his contribution to the company over the past ten years in his role as chief executive and wish him well for the future.”
